Strategic Business Planning
A Strategic Business Plan
- Define your target customer and identify the ways in which your product or service will fulfill their needs.
- Provide documentation of the research you’ve done into the need for your service or product, thus creating a justification for your plans.
- Create a strategic marketing plan with detailed descriptions of your planned campaigns, promotions and timelines. You will also be able to utilize the competitive environment information to assess what the sales potential is, analyze the market conditions and how best to target your demographic, and to establish predictions and goals for your efforts.
- Draw up a staffing plan that includes details regarding the level of expertise needed to support the organization, as well as the number of employees needed and what their skill set needs to be.
- Create a management plan complete with descriptions of individual’s responsibilities and timelines.
- Project start-up costs, operating costs, projected revenue and profits for an extended period of time, and other financial planning information.
- Create a list of your business’ needs, from building and equipment to vendors and supplies.